Grassi Investment Management Lowers stake in Intel Corporation (INTC)

Intel Corporation (INTC) : Grassi Investment Management reduced its stake in Intel Corporation by 0.48% during the most recent quarter end. The investment management company now holds a total of 187,335 shares of Intel Corporation which is valued at $6,981,975 after selling 900 shares in Intel Corporation , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Intel Corporation makes up approximately 1.35% of Grassi Investment Management’s portfolio.

Other Hedge Funds, Including , One Capital Management reduced its stake in INTC by selling 1,227 shares or 1.52% in the most recent quarter. The Hedge Fund company now holds 79,350 shares of INTC which is valued at $2,957,375. Intel Corporation makes up approx 0.99% of One Capital Management’s portfolio.Hills Bank Trust Co reduced its stake in INTC by selling 2,185 shares or 2.89% in the most recent quarter. The Hedge Fund company now holds 73,293 shares of INTC which is valued at $2,786,600. Intel Corporation makes up approx 1.01% of Hills Bank Trust Co’s portfolio.Cutler Group Lp boosted its stake in INTC in the latest quarter, The investment management firm added 17,065 additional shares and now holds a total of 24,365 shares of Intel Corporation which is valued at $926,357. Intel Corporation makes up approx 0.06% of Cutler Group Lp’s portfolio.Arvest Bank Trust Division reduced its stake in INTC by selling 539 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 450,075 shares of INTC which is valued at $17,147,858. Intel Corporation makes up approx 1.44% of Arvest Bank Trust Division’s portfolio.Mcqueen Ball Associates boosted its stake in INTC in the latest quarter, The investment management firm added 930 additional shares and now holds a total of 74,321 shares of Intel Corporation which is valued at $2,823,455. Intel Corporation makes up approx 1.93% of Mcqueen Ball Associates’s portfolio.

Intel Corporation closed down -0.75 points or -1.97% at $37.27 with 2,76,50,460 shares getting traded on Tuesday. Post opening the session at $37.91, the shares hit an intraday low of $36.821 and an intraday high of $38 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Intel Corporation reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.53. The company had revenue of $13533.00 million for the quarter, compared to analysts expectations of $13549.95 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Investors should note that on Sep 15, 2016, Intel Corporation announced a cash dividend of $0.2600. The company’s management has announced Nov 3, 2016 as the ex-dividend date and fixed the record date on Nov 7, 2016. The payable date has been fixed on Dec 1, 2016.

Many Wall Street Analysts have commented on Intel Corporation. Intel Corporation was Initiated by Susquehanna to “Positive” on Sep 20, 2016. Company shares were Reiterated by Canaccord Genuity on Sep 20, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $40 .Company shares were Reiterated by Needham on Sep 19, 2016 to “Buy”, Firm has raised the Price Target to $ 43 from a previous price target of $38 .

Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company sells these platforms to original equipment manufacturers (OEMs) original design manufacturers (ODMs) and industrial and communications equipment manufacturers in the computing and communications industries. The Companys platforms are used to deliver a range of computing experiences in notebooks 2 in 1 systems desktops servers tablets smartphones and the Internet of Things. It also develops and sells software and services focused on security and technology integration. The Companys operating segments include the PC Client Group (PCCG) the Data Center Group (DCG) the Internet of Things Group (IOTG) the Mobile and Communications Group (MCG) the software and services (SSG) and all other. SSG segment includes McAfee and software and services group. All Other segment includes Non-Volatile Memory Solutions Group Netbook Group and New Devices Group.